S&P 500

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Above 2709.88 PTS the major trend remains bullish. 2841.37 PTS and 2863.28 PTS are in the line of sight. The breaking of 2709.88 PTS would cancel this anticipation and favor a correction toward 2666.05 PTS.

The MACD is positive and above its signal line. This configuration confirms the sound positioning of the index. We can see that the bullish potential of the RSI has not been exhausted. As for the Stochastics, they are in the overbought area, making a correction likely in the short term. The volumes traded are more than the average volumes over the last 10 days.

The index is positioned to the upside. It is above its 50-day moving average. The position of the 20-day moving average (higher than the 50-day moving average) means that this index is reliable in the medium term. The first buy levels are on the supports situated at 2709.88 PTS, then at 2666.05 PTS; only the resistances, placed at 2841.37 PTS, then at 2863.28 PTS, could contain the prices.

Above 2658 PTS the major trend remains bullish. 2794.58 PTS and 2833.61 PTS are in the line of sight. The breaking of 2658 PTS would cancel this anticipation and favor a correction toward 2618.98 PTS.

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The MACD is positive and above its signal line. This configuration confirms the sound positioning of the index. We can see that the bullish potential of the RSI has not been exhausted. The Stochastics are not overbought, which leaves the bullish potential intact in the medium term. The volumes traded are more than the average volumes over the last 10 days.

The index is positioned to the upside. It is above its 50-day moving average. The position of the 20-day moving average (higher than the 50-day moving average) means that this index is reliable in the medium term. The first buy levels are on the supports situated at 2658 PTS, then at 2618.98 PTS; only the resistances, placed at 2794.58 PTS, then at 2833.61 PTS, could contain the prices.

Above 2663.4 PTS the major trend remains bullish. 2802.15 PTS and 2836.84 PTS are in the line of sight. The breaking of 2663.4 PTS would cancel this anticipation and favor a correction toward 2628.71 PTS.

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The MACD is positive and above its signal line. This configuration confirms the sound positioning of the index. We can see that the bullish potential of the RSI has not been exhausted. As for the Stochastics, they are in the overbought area, making a correction likely in the short term. The volumes traded are more than the average volumes over the last 10 days.

The index is positioned to the upside. It is above its 50-day moving average. The position of the 20-day moving average (higher than the 50-day moving average) means that this index is reliable in the medium term. The first buy levels are on the supports situated at 2663.4 PTS, then at 2628.71 PTS; only the resistances, placed at 2802.15 PTS, then at 2836.84 PTS, could contain the prices.

Above 2593.18 PTS the major trend remains bullish. 2771.33 PTS and 2822.23 PTS are in the line of sight. The breaking of 2593.18 PTS would cancel this anticipation and favor a correction toward 2567.73 PTS.
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INDICATOR

• Opinion Short Term
  
• Negative
  
• Resistance 1 2,771.33
  
• Support 1 2,593.18
  
• Opinion Medium Term
  
• Bearish
  
• Resistance 2 2,822.23
  
• Support 2 2,567.73
  

STATISTICS

• Last Price 2723.07 PTS
  
• MACD 4.83
  
• MA 20 2669.53
  
• MA 50 2676.67
  
• Stochastics 88.62
  
• RSI 60.76
  

SUMMARY
The MACD is positive and above its signal line. This configuration confirms the sound positioning of the index. We can see that the bullish potential of the RSI has not been exhausted. As for the Stochastics, they are in the overbought area, making a correction likely in the short term. The volumes traded are more than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The index is in a phase of technical recovery. It is above its 50-day moving average but the latter is poorly positioned. In the event of a correction, the first support is at 2593.18 PTS, before a test of 2567.73 PTS in the case of a breach. To the upside, the resistance at 2771.33 PTS is intermediary before the strong level of 2822.23 PTS.

The bearish trend can resume

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INDICATOR

• Opinion Short Term Negative
  
• Resistance 1 2762.08PTS
  
• Support 1 2471.84PTS
  
• Opinion Mid Term Bearish
  
• Support 2 2413.79PTS
  
• Resistance 2 2820.12PTS
  

STRATEGY
Below 2762.08 PTS the major trend remains bearish 2471.84 PTS and then 2413.79 PTS are in the line of sight. The surpassing of 2762.08 PTS would cancel this anticipation and favor a recovery toward 2820.12 PTS.

SUMMARY
The MACD is negative and lower than its signal line. This configuration is damaging the index perspectives. The RSI is not yet indicating an oversold situation, so a continuation of the fall is technically possible. At less than 20, the Stochastics are extermely low. The volumes traded are less than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The index is oriented to the downside. It is under its 50-day moving average located at 2729.72. The 20-day moving average (lower than the 50-day moving average) is maintaining the prices under medium-term sell pressure. Our first support is at 2471.84 PTS and the next is at 2413.79 PTS; the resistances, located at 2762.08 PTS and at 2820.12 PTS must be exceeded for the trend to undergo a reversal.

The consolidation can continue
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INDICATOR

• Opinion Short Term Neutral
  
• Resistance 1 2823.48PTS
  
• Support 1 2615.58PTS
  
• Opinion Mid Term Bearish
  
• Support 2 2556.18PTS
  
• Resistance 2 2882.88PTS
  

STRATEGY
As long as 2882.88 PTS continues to be a resistance, the movement may join 2615.58 PTS over the short term. The surpassing of 2882.88 PTS would invalidate this opinion and open the door for 2942.28 PTS.

SUMMARY
The MACD is positive but lower than its signal line. The dynamic in progress has been interrupted. If the MACD were to turn negative, the price correction could continue. The RSI value is less than 50: this confirms the weakness of prices. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are more than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The index is oriented to the downside. It is under its 50-day moving average located at 2748.1. The 20-day moving average (lower than the 50-day moving average) is maintaining the prices under medium-term sell pressure. Our first support is at 2615.58 PTS and the next is at 2556.18 PTS; the resistances, located at 2823.48 PTS and at 2882.88 PTS must be exceeded for the trend to undergo a reversal.

The prices are at interesting levels
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INDICATOR

• Opinion Short Term Positive
  
• Resistance 1 2853.23PTS
  
• Support 1 2674.91PTS
  
• Opinion Mid Term Bearish
  
• Support 2 2615.47PTS
  
• Resistance 2 2912.67PTS
  

STRATEGY
Above 2674.91 PTS the major trend remains bullish. 2853.23 PTS and 2912.67 PTS are in the line of sight. The breaking of 2674.91 PTS would cancel this anticipation and favor a correction toward 2615.47 PTS.

SUMMARY
The MACD is positive and above its signal line. This configuration confirms the sound positioning of the index. Moreover, the relative strength indicator, the RSI, is not contradicting this hypothesis. The Stochastics are not overbought, which leaves the bullish potential intact in the medium term. The volumes traded are less than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The index is oriented to the downside. It is under its 50-day moving average located at 2748.63. The 20-day moving average (lower than the 50-day moving average) is maintaining the prices under medium-term sell pressure. Our first support is at 2674.91 PTS and the next is at 2615.47 PTS; the resistances, located at 2853.23 PTS and at 2912.67 PTS must be exceeded for the trend to undergo a reversal.

The bullish signals are intact
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INDICATOR
Opinion Short Term Positive
Resistance 1 2850.58PTS
Support 1 2647.04PTS
Opinion Mid Term Bearish
Support 2 2617.96PTS
Resistance 2 2908.73PTS

STRATEGY
Above 2647.04 PTS the major trend remains bullish. 2850.58 PTS and 2908.73 PTS are in the line of sight. The breaking of 2647.04 PTS would cancel this anticipation and favor a correction toward 2617.96 PTS.

SUMMARY
The MACD is positive and above its signal line. This configuration confirms the sound positioning of the index. We can see that the bullish potential of the RSI has not been exhausted. The Stochastics are not overbought, which leaves the bullish potential intact in the medium term. The volumes traded are less than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
Since the recent low at 2677.67 PTS the index has been in a phase of technical recovery towards its 50-day moving average located at 2748.07: the price reaction on this level will allow us to envisage a continuation of the movement in the medium term. To alleviate this position, we could wait to test the short-term resistances located at 2850.58 PTS and 2908.73 PTS. The supports are at 2647.04 PTS then at 2617.96 PTS .

The bullish signals are intact
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INDICATOR
Opinion Short Term Positive
Resistance 1 2881.38PTS
Support 1 2672.02PTS
Opinion Mid Term Neutral
Support 2 2612.2PTS
Resistance 2 2941.2PTS

STRATEGY
Above 2672.02 PTS the major trend remains bullish. 2881.38 PTS and 2941.2 PTS are in the line of sight. The breaking of 2672.02 PTS would cancel this anticipation and favor a correction toward 2612.2 PTS.

SUMMARY
The MACD is positive and above its signal line. This configuration confirms the sound positioning of the index. We can see that the bullish potential of the RSI has not been exhausted. The Stochastics are not overbought, which leaves the bullish potential intact in the medium term. The volumes traded are less than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The index is in a phase of technical recovery. It is above its 50-day moving average but the latter is poorly positioned. In the event of a correction, the first support is at 2672.02 PTS, before a test of 2612.2 PTS in the case of a breach. To the upside, the resistance at 2881.38 PTS is intermediary before the strong level of 2941.2 PTS.

The movement remains bullish
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INDICATOR

• Opinion Short Term Positive
  
• Resistance 1 2893.16PTS
  
• Support 1 2694.38PTS
  
• Opinion Mid Term Neutral
  
• Support 2 2628.12PTS
  
• Resistance 2 2926.29PTS
  

STRATEGY
Above 2694.38 PTS the major trend remains bullish. 2893.16 PTS and 2926.29 PTS are in the line of sight. The breaking of 2694.38 PTS would cancel this anticipation and favor a correction toward 2628.12 PTS.

SUMMARY
The MACD is positive and above its signal line. This configuration confirms the sound positioning of the index. We can see that the bullish potential of the RSI has not been exhausted. As for the Stochastics, they are in the overbought area, making a correction likely in the short term. The volumes traded are less than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The index is in a phase of technical recovery. It is above its 50-day moving average but the latter is poorly positioned. In the event of a correction, the first support is at 2694.38 PTS, before a test of 2628.12 PTS in the case of a breach. To the upside, the resistance at 2893.16 PTS is intermediary before the strong level of 2926.29 PTS.

SPDR S&P 500 ETF (SPY), $236.44

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Trade:  Under $236.55, we recommend buying 10 Mar $239 puts (21 DTE) at mid-point (closed at $4.03 x 4.10).
Strategy:  Breakout Failure (if triggers) with extended daily and weekly charts.

Target: $233.50 – $235 area.
Max Loss:  Debit.
Stop Loss:  $237.22.

source: mastertrader

Below is a daily chart of S&P 500 ETF (SPY), $227.77

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Trade:  If SPY is trading over $227 into the close, we recommend you buy it
Strategy:  Anticipated breakout on daily and weekly charts after false breakdown and bullish consolidation.
Max Gain:   Unlimited.
Stop Loss:  $225.25

source: mastertrader